Portfolio Supplementary Additional Estimates Statement

APPROPRIATION BILL (No. 5) 2003-04 AND
APPROPRIATION BILL (No. 6) 2003-04

TREASURY PORTFOLIO

© Commonwealth of Australia 2004

ISBN 0 642 74246 4

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Treasurer
PARLIAMENT HOUSE
CANBERRA 2600

President of the Senate
Australian Senate
Parliament House
CANBERRA ACT 2600

Speaker
House of Representatives
Parliament House
CANBERRA ACT 2600

Dear Mr President
Dear Mr Speaker

I hereby submit this Portfolio Supplementary Additional Estimates Statement in support of the additional appropriations sought for the Treasury Portfolio, through Appropriation Bill (No. 5) 2003-04 and Appropriation Bill (No. 6) 2003-04.

This statement has been developed, and is submitted to the Parliament, as a statement of the funding requirements being sought for the portfolio.

I present these statements by virtue of my ministerial responsibility for accountability to the Parliament and, through it, the public.

Yours sincerely

Peter Costello

User Guide

Introduction

The purpose of this Portfolio Supplementary Additional Estimates Statement is to explain Appropriation Bill (No. 5) 2003-04 and Appropriation Bill (No. 6) 2003-04. This document serves to inform senators and members of Parliament of the proposed allocation of extra appropriation resources to Government outcomes by agencies within the portfolio.

This Portfolio Supplementary Additional Estimates Statement are declared by the Appropriation Bills No. 5 and No. 6 2003-04 to be a ‘relevant document’ to the interpretation of the Bills according to section 15AB of the Acts Interpretation Act 1901.

Whereas this document is focused on explaining these supplementary additional estimates appropriations, further information on related agency resourcing issues — including special appropriations, special accounts, revenue from other sources, performance information, and a full set of up-to-date agency budgeted financial statements — can be found in the 2004-05 Portfolio Budget Statements accompanying the 2004-05 annual appropriation bills. This Portfolio Supplementary Additional Estimates Statement should be read in conjunction with the 2004-05 Portfolio Budget Statements, which follow from this document in a chronological sense, and include information from the appropriation bills explained in this document. The 2004-05 Portfolio Budget Statements were introduced to Parliament at the same time as this document.

Agency Supplementary Additional Estimates Statement

Department of the Treasury

Overview of additional appropriations sought

The Department of the Treasury is seeking $0.8 million in departmental outputs for the National Strategy for Consumer and Financial Literacy ($0.8 million) in Appropriation Bill (No. 5) 2003-04.

The Department of the Treasury is also seeking $4.1 million in administered outputs for Australian Capital Territory — Special Revenue Assistance in Appropriation Bill (No. 6) 2003-04. The Government has decided to make this amount available to the Australian Capital Territory following a recommendation from the Commonwealth Grants Commission.

Measures

Other variations to appropriations

Measures — Agency summary

National Strategy for Consumer and Financial Literacy

The Government will provide $0.8 million in 2003-04 for expenses incurred in the establishment of the National Consumer and Financial Literacy Taskforce.

The Taskforce will map and evaluate current consumer and financial literacy programs in Australia, identify any gaps or ways of working more effectively and develop a national strategy to raise the levels of consumer awareness and financial literacy in Australia.

Further information can be found in the press release of 23 February 2004 issued by the Minister for Revenue and Assistant Treasurer.

Measures

Table 1.1: Summary of 2003-04 measures since the 2003-04 Portfolio Additional Estimates Statements

Table 1.2: Appropriation Bill (No. 5) 2003-04

Table 1.3: Appropriation Bill (No. 6) 2003-04